STATISTICS: ALBANIAN insurers' GWP up 14.41% in Q1

The Albanian insurance market reached ALL 3.02 billion (EUR 21.53 million) in the January-March 2015 period, or 14.41% more y-o-y, the official statistics published by the Albanian Financial Supervisory Authority - AFSA indicated. The value of claims paid by local insurers increased by 18.61%, to ALL 705.51 million.

"During January-March 2015, the number of issued insurance contracts reached 225,337 showing an increase of 10.08% compared with the period January-March 2014", AFSA said in a statement published on its website.

The Albanian insurance market continued to be dominated by non-life policies, which represented a 92.51% share of the total GWP volume, while the life insurance market share was 7.49%. Market shares of voluntary and compulsory insurance gross written premiums were 40.71% and 59.29% respectively.

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